DJ... May I ask a question after this one? (good)...

What status of completion is your "Mod".
I ask cause you realize that
MODS do not need VP's until you are finished working.
VP's are complete packages made by the mod team once all work has been completed and you're ready to distribute to the public. They are not actually needed, but are compacted and placed into one (or few) large file(s). They are not intended to be altered to changed on a whim constantly. Although you can, it's just not logical to have to keep changing your VP when standard Mod folder format is not only more construction friendly, it also helps for on the fly changes.
What's the point of recompiling something over and over?
And by keeping a "working" copy of all files (in a separate area), if say your newly altered msg.tbl screws up, you simply stick your older "working" copy in and bingo, game works again and you can continue modding as you slowly try to figure out what changes you did in the new one were wrong.
Do you see the logic in this while your mod is under construction???